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how do i solve this? Brooks Company carries three inventory items. The following information pertains to the ending inventory. Required a. Determine the ending inverntory
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Brooks Company carries three inventory items. The following information pertains to the ending inventory. Required a. Determine the ending inverntory that Brooks will report on the balance sheet, assuming that it applies the lower-of-cost-o rule to individual inventory items. b. Prepare the necessary journal entry, assuming the decline in value was immaterial. Complete this question by entering your answers in the tabs below. Determine the ending inventory that Brooks will report on the balance sheet, assuming that it applies the lower-of-cost-ormarket rule to individual inventory items. a. Determine the ending inventory that Brooks will report on the balance sheet, assuming that it applies the lo rule to individual inventory items. b. Prepare the necessary journal entry, assuming the decline in value was immaterial. Complete this question by entering your answers in the tabs below. Prepare the necessiry journal entry, assuming the decline in value was immaterial. (If no entry is required for a trans "No journal entry required" in the first account field.) Journal entry worksheet Record entry for cost of goods sold Step by Step Solution
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